This can be a noisy and complicated market to understand, so at Ardent we created this visual representation which is based on our ePayables Framework that is discussed here in more detail. Using the three major phases of the AP process as the basis for the categorization, solution providers fall within or across the phases depending on their capabilities.
Receive & Process
The AP process typically begins with the receipt of an invoice however, there are multiple formats in which organizations receive invoices (paper, fax, email, eInvoice, EDI, XML, etc). As a result, solution providers that offer products that automate the ‘Receive’ portion of the AP process often differ in their approach.
There are Scan, Capture & Workflow (SCW) solutions whose main focus is to identify and extract invoice data (typically from paper, fax, pdf or email) into a usable electronic format which can then be processed in a more automated fashion. There are further variances within this category.
Providers in this category include Brainware (part of Lexmark), Kofax, Esker and Scan One.
eInvoicing solution providers are a different type of provider offering solutions that manage the ‘receive’ and ‘process’ phases. These solutions often take a network approach connecting buying and selling organizations and allowing them to interact with each other in a fully automated and electronic environment. Some eInvoicing solution providers offer scanning and data capture capabilities as well, either in-house or through third party partners.
Providers in this category include OB10, SciQuest and Transcepta.
Pay
Payment Solutions cover the last phase of the accounts payable process. This category is comprised of electronic payment solutions providers as well as certain banks that have electronic payment solutions and card solutions. Some of the providers in this section offer a wide range of payment options from check printing and mailing, ACH, Wire/Swift or cards with the aim of migrating their customers off paper checks.
Providers in this category include American Express, Bank of America Merrill Lynch, and Bottomline Technologies.
End-to-End ePayables Solutions allow an organization to manage the receipt, processing and payment of invoices all within one product or suite of linked products. Some of these providers also extend their offering to provide procurement related capabilities such as PO requisition, catalog management, sourcing, eProcurement, etc, thereby offering a true Procure-to-Pay solution.
Providers in this category include Ariba, ADP, Basware, iPayables and Syncada .
Readers who are interested in a deeper discussion on the best approach to automate their AP processes including deployment methods and a detailed review of the main ePayables providers in the market may be interested in our AP Automation Solution Provider Landscape, a part of our ePayables SMARTSet which can be found in our research library by clicking here.
